ABSTRACT
Theissueofinvestigatingseasonalvariationineconomicdatahasgainedmuchinterestinthelastfewyears,andthishasresultedinthetwoapproachesdiscussed intheprevioussection.Therearealsoseveralstudiesinwhichseasonalityisincorporatedexplicitlyintoeconomictheory,e.g.,Osborn(1988),HansenandSargent (1993),Todd(1990),andMironandZeldes(1988).Thereare,however,manyissues forcurrentandfutureresearch,andinthissectionIwillhighlightonlyafr~wofthese.
A.StructuralBreaks
